SOLD
Tucker Development Acquires Mixed-Use Property In Skokie For $13.25M
5400 Old Orchard Road
Mixed-use
486,000 SF
486,000 SF
Sold 332 days ago
Summary
Sale
ILLINOIS
Mixed-use
486,000 sqft
An 11.16-acre redevelopment site located at 5400 Old Orchard Road in Skokie has been sold in a closed transaction. The mixed-use property spans 486,000 square feet and was purchased by Tucker Development for a total of $13,250,000, at a price per square foot of $27. The seller in this transaction was CTL Group.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $13,250,000
- Address: 5400 Old Orchard Road
- Market: Skokie
- Square Footage: 486,000
Drew Neems from NorthMarq represented both the buyer, Tucker Development, and the seller, CTL Group, in this deal. Notably, the property includes a 187,000 square foot corporate headquarters and sits adjacent to the Westfield Old Orchard shopping mall and I-94. Tucker Development has plans to develop a nearly 300-unit multifamily housing project on the site.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: Drew Neems
DATE: 05/25/2023
ADDRESS: 5400 Old Orchard Road
MARKET: Skokie
ASSET TYPE: Mixed-use ~ SF: 486,000
BUYER: Tucker Development (@TuckerDev)
SELLER: CTL Group
BROKER: Drew Neems (@Newdreems) - NorthMarq (@NorthMarq)
SALE PRICE: $13,250,000
SF: 486,000 ~ PPSF: $27
NOTE FROM BROKER: 187,000 SF Corporate HQ on 11.16 AC redevelopment site. Tucker Development plans a nearly 300-unit multifamily housing project next to Westfield Old Orchard shopping mall and I-94 in Skokie.View on map
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Address5400 Old Orchard Road
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